International

Turkey’s third drillship arrived in Tasucu, Mersin, a coastal city in the Mediterranean region of the country on Sunday, the country’s energy minister said. Fatih Donmez said that the Turkish Petroleum Corporation took the ship into its inventory on Jan. 31 and it set off from the U.K. “We named …

American oil producers are slashing their budgets for new operations for the rest of this year, which means far fewer new rigs, a painful downturn for dozens of oil-field services companies and the certainty of layoffs, from Texas to North Dakota. Worldwide, the coronavirus pandemic has kneecapped the petroleum business, …

Russia will provide funding for government spending commitments, including social sphere for six year at current oil process, Finance Minister Anton Siluanov said at a meeting of the Federation Council. “I want to say that even at current energy prices, we will have enough resources for a period of about …

Russia refuses to open negotiations with Saudi Arabia, which is flooding world markets with cheap oil in a brazen attempt to punish Russia for rejecting substantial oil production cuts that would have steadied sinking oil prices. Saudi Arabia has made huge cuts to its official selling prices for oil. Arab …

The UAE Minister of Energy and Industry, Suhail bin Mohammed Al Mazrouei, expressed his disappointment after the collapse of the OPEC+ oil cuts agreement, which expires at the end of March. In a series of tweets, Al Mazrouei said that the UAE has ample production capacity that will be quickly …

The UAE Minister of Energy and Industry Suhail Bin Mohammed Al Mazrouei has said that a new agreement between OPEC members is essential to support a balanced and less volatile market. Al Mazrouei said, via a series of tweets, “OPEC and OPEC+ played an important role in delivering market stability. …

Marc Finaud, the former French Foreign Ministry spokesman, says that one of the main weaknesses of the Agency is not to have any means of collecting its own intelligence and relying on the information provided by its member states.

Suggesting that Russia and Turkey can manage the oil fields of eastern Syria, Deir ez-Zor, in place of the terrorists.

Saudi Arabia is set to hike its crude oil supply to a record high, flooding markets as it continues to escalate a trade war with Russia. The kingdom will up its supply to an unprecedented height of 12.3 million barrels per day in April, said Amin Nasser, CEO of Saudi …

International Energy Agency Executive Director Fatih Birol on Monday denounced oil producer countries he said were playing “Russian roulette” with markets, adding that an apparent price war was an attempt to “kill” the US shale sector, but was unlikely to succeed and could have “grave consequences” around the world, Platts …